Most people intuitively know what a “community bank” is, even if it can be hard to define one financially. They are typically the smaller banks just down the street—locally owned, locally operated, and locally involved. Community banks are the financial equivalent of the cozy diner that knows your order as soon as you…

Disclaimer: This article is for general information purposes only. Do not pass away thinking that this is all you need to know regarding gift and estate tax valuation. Contact your CPA or attorney for official advice before then. Death and taxes are inevitable. They are also inseparable; when the first happens, yo…

Over the past couple of months, we’ve been taking a deep dive into the process of selling your business, ending with today’s post on how to close the deal. We’re pulling back the curtain on exactly how we at Southard Financial help you find a qualified buyer for the company you’ve built. 

Note: In case you’re just joining us, this is Part Two of a series on how to sell your business. Before reading this post on marketing your business, take a couple of minutes and read Part One: Getting a Valuation if you missed it. After securing an accurate valuation, the next step is to begin letting potential buyers…

Welcome to the first post in a 3-part series on How to Sell Your Business. So, you’ve got a business that you want to sell and you want to get the best possible price for your business. How do you get that price? How do you know what your business is worth? You need a solid valuation!

Would you rather sell your company for 3x or 10x EBITDA? That’s a big difference, and one worth putting serious thought into. Let’s say you have 2 companies. Both generate $25 million in revenue and $5 million of profit a year. Company 1 has an owner with complete control of all areas of the business and no manageme…

The market is hot, buyers aren’t skittish, interest rates are low, and your business is really doing well. According to most business appraisal experts, this hypothetical moment would be the perfect time to sell your business. But not so fast. There are often overlooked aspects of a business that can significantly…

When the topic of employer-sponsored retirement plans comes up, our minds immediately think “401(k).” However, as we pointed out in our post, What is an ESOP and Why Should You Care?, a well-managed ESOP could be a valuable option for you and your company—certainly one worth investigating. Our goal is for you to walk…

An employee stock ownership plan (ESOP) could be a great option for your employees and company leadership. An ESOP is a retirement plan that vests your employees in the business and gives them a compelling reason to care about how the company is doing. When the company does well, they do well. For owners wishing to sell t…

Due to the lower corporate tax rates—thanks to new tax laws passed last year—C corporations might be the new popular kid in school. If you own or run an S corporation, it might be worth looking into converting to a C corporation—but make sure to consider all the details.